Housebuilder Cala Homes (East) has hailed a report that its work to redevelop a former school in Edinburgh will deliver an economic boost of more than £45 million to the local area.
The firm will create a development of 87 refurbished one to four-bedroom apartments as it restores the former Boroughmuir High School. A further 17 mid-market rent apartments will also be delivered.
The business cited work by independent consultancy Lichfields on the scale of likely benefits from its plans to the surrounding area.
It said the report states that the renovation work at Boroughmuir will create 105 jobs a year – 55 construction posts and 50 supply chain roles.
It is also claimed that Cala’s work will deliver a £41.9m cash injection to the local economy through the £20.4m construction value and £21.5m worth of economic output.
Cala added that there will also be £757,000 as part of developer contributions to improve schools, leisure facilities and infrastructure while creating much-needed new homes – and the local authority is estimated to receive an extra £290,000 through additional council tax revenues.
Philip Hogg, sales and marketing director at Cala Homes (East), said: “We’re committed to developing communities rather than simply building new homes.
“The construction sector has a pivotal role to play in building and sustaining local communities from helping local trades to thrive and creating jobs through to helping independent shops to prosper.
“Given the sensitive nature of this refurbishment project, we have carefully selected specialist subcontractors, some of which are local, who bring extensive experience and expertise to this development.
“We are proud that our work can bring benefits for both people that choose to live on our development and also to the wider Bruntsfield community.”
The former school was designed by renowned architect John Alexander Carfrae. One of the first buildings in Edinburgh to utilise steel frame for architecture, it was constructed between 1911 and 1914 and is a Grade B listed building. It spans 2.18 acres with the apartments ranging from 767 to 1,701 square feet and set to launch in early 2020.
Cala said Lichfields’ report suggests the economic windfall for the local community would be delivered in three distinct areas, namely constructions, local community and local authority revenue.
Operational benefits from the work include an estimated £570,000 spent by buyers adding their own touches to their home, with another £1.75m likely to be spent in local shops.
The report also states that 30 full-time jobs will be created in the local area as a result of increased spend from those moving to Cala’s development.
Hogg added: “We’re delighted to be investing in Edinburgh and believe our plans will have a positive effect not only by renovating a building of local importance but also by improving infrastructure for the existing community.
“Our track record in the area shows that by engaging with the local contractors and community throughout the design process, we are able to translate our building projects into significant investment in the local area.